How to Maximize Your Retirement Savings with Quicken

Whether retirement still feels like a long way off or right around the corner (or even if you’re already there), there are things you can be doing today to make your retirement more financially secure.  What to do while you’re saving for retirement 1. Focus on your net worth Early on in life, people tend to focus on cash management and making sure they have enough money to cover their bills. That... Continue reading

How to Retire Early - And Should You?

Early retirement is possible and easy, but it requires extensive planning. The effort that you put towards retirement planning is worth it because, arguably, at retirement is when a fun, stress-free life can truly begin. Here is the guide on how to retire early. What is Early Retirement? Early retirement is when you stop working earlier than the statutory retirement age. 65 is considered the... Continue reading
Quicken 401k Retirement Plan

What Is a 401(k) Retirement Plan?

A 401(k) is a type of savings account that allows you to defer paying income tax on your contributions until retirement. Although we use the term “defer,” the major advantage of a 401(k) over a traditional savings account is that it enables you to pay less overall taxes on the money you’re saving.  Used wisely, a 401(k) is one of the best tools available to help you plan for a secure retirement.... Continue reading
Quicken IRA

IRA Contribution and Deduction Limits for 2019 and 2020

An individual retirement arrangement, often known as an individual retirement account and shortened to IRA, can provide you with a tax benefit as you save for retirement.  However, the IRA contribution limits and income limits can change over time. Double-check the IRA limits for 2019 and 2020, and learn how to correct excess contributions if you made a mistake.  Traditional and Roth IRA... Continue reading
Quicken RMD

Need to Know: Required Minimum Distributions (RMDs)

What Is a Required Minimum Distribution (RMD)? A required minimum distribution (RMD) is a mandatory annual withdrawal that you must take from certain types of tax-advantaged retirement plans. If you don’t take your RMDs in time, you could have to pay a steep 50% tax on the money you should have withdrawn. However, the amount you’re required to withdraw can change each year because it depends on... Continue reading
Quicken Recession Proof

6 Ways to Recession-Proof Your Retirement

Is it possible to predict a recession? The short answer is: not really. The Great Recession of 2008, for example, famously blindsided many economists worldwide.  So why are recessions so hard to forecast? According to a recent article in Bloomberg Businessweek, “The main reason is that it’s simply a hard job. Information about the economy is incomplete and arrives with a lag. And turns in the... Continue reading
Personal finance strategies retiring

Personal Finance Strategies: Retiring

Having enough to live on in your golden years isn't an issue of luck, but of careful planning. If you’re looking to put together a retirement plan but don’t know where to start, use these tips to set yourself up for a comfortable, financially stable future.   Continue reading
Best Long-Term Budgeting Tools to Plan for Retirement

Best Long-Term Budgeting Tools to Plan for Retirement

Using the right budgeting software not only helps you reach your retirement savings goals, it can also ensure you manage your money well through the three phases of retirement. Continue reading
How many types of retirement plans are there?

Types of Retirement Plans [Infographic]

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Money Management for Retirement: Savings Plans That'll Fit Into Your Budget

Retirement Savings It is often debated whether Social Security will be around in 20 to 30 years. But the reality is that you won't be able to survive solely on Social Security benefits. Organizing your priorities so that you give the same attention to your future retirement savings that you give to your current household and personal expenses is fundamental to securing that proverbial nest egg.... Continue reading